The US financial sector finds itself at the center of public attention once again as the New York Attorney General’s Office launches a lawsuit against prominent fintech players DailyPay and MoneyLion $ML. These companies, known for offering expedited wage access services, stand accused of exploiting American workers by charging excessive fees for early access to earned wages — with the effective annual percentage rates reportedly ranging from 200% up to a staggering 750%. New York Attorney General Letitia James labeled the companies “predatory lenders,” arguing they conceal exorbitant, usurious interest rates behind the promise of instant financial flexibility.